Big industrial property a southern rarity

2:00 PM Wednesday March 25, 2015 Colin Taylor

This large industrial complex is for sale at 62 Hunua Rd and 2 Croskery Rd, Papakura.

A large industrial complex with a long term tenant is being marketed for sale as “the only investment property of this scale currently available on the market” in Papakura and Takanini.

The two adjacent sites at 62 Hunua Rd and 2 Croskery Rd are on separate titles but will be sold together, says Damon Wyllie of Knight Frank South Auckland who, with colleague Sam Sherning, is marketing the freehold land and buildings for sale by expressions of interest closing at 4 pm on April 17 unless they sell beforehand by negotiation.

Wyllie says selling the two sites as one package will provide the successful purchaser with flexibility and more future options.

The overall combined offering comprises 9903 sq m of Industrial zoned land with a total of 6147 sq m of net lettable floor space.

The buildings at 2 Croskery Road comprise a modern clear span industrial warehouse of 1204 sq m with five roller doors providing excellent access. The building has a low office to warehouse ratio with single level offices and amenities at the front. A separate and fully self-contained 433 sq m high stud warehouse building adjoins it to the rear.

The site has dual street access allowing drive through capability from an access way off Berlane Place.

The larger site at 62 Hunua Road has modern three level offices and attached high stud warehouse of 3463 sq m. A drive through loading bay and canopy extends along the southern boundary of the site.

“The property has generous staff and visitor car parking area with a total of 50 car parking spaces,” Wylie says. “It also benefits from triple street access points via Hunua Road, Croskery Road and Berlane Place providing drive through access for trucks carrying incoming and outgoing goods.”

Sherning says two new leases of six years are in place to established tenant George Grant Engineering (GGE). “These are generating a net annual rental income of $719,406,” he says. 

GGE has been in business over 25 years and is one of New Zealand’s largest steel fabricators supplying structural steel for commercial, industrial, civil construction and infrastructure projects.

The site is currently zoned Industrial 4 but, under the Proposed Auckland Unitary Plan, the property will be zoned ‘Heavy Industry’ which allows for a wide range of industrial uses.

Sherning says the sale of two adjacent freehold sites in an increasingly popular corner of South Auckland presents an ideal an opportunity for investors like large family trusts and astute industrial investors.

“As industrial land in Auckland becomes increasingly scarce to source there will be a greater focus on developing areas like Takanini and Papakura with more businesses establishing here.

“Papakura benefits from the Papakura motorway interchange of State Highway One being only 3.2 km away and access to major transport routes is becoming increasingly important for industrial users as Auckland grows in size and density.”

Wyllie says that Papakura is an area which will see extensive growth in future years. “Under the proposed unitary plan there are several areas adjacent to the Papakura industrial area that are earmarked for future urban uses. Papakura’s southern position also provides efficient access into the rapidly growing Bay of Plenty and Waikato provinces while maintaining an Auckland location.”

He says the immediate area of the property is well supported in relation to amenities with Papakura township only 2.5 km away.  

“Neighbouring major industries in the area include Griffins Foods and Laminex New Zealand with a number of new industrial sub-divisions under construction.”

What’s on offer?

The property: Big Papakura industrial complex

Location: 62 Hunua & 2 Croskery Rds.

Agency: Knight Frank South Auckland.

Sales method: Expressions of interest.

Deadline: Closing at 4 pm on April 17/  

Features:

  • 9903 sq m of Industrial zoned land.
  • 6147 sq m of net lettable floor space.
  • Modern warehouse office complex.
  • 50 car parking spaces.

Two new leases to established tenant.

 Knight frank damon & Sam.jpg

Damon Wyllie (left) &Sam Sherning (right) of Knight Frank South Auckland.